The International Stainless Steel Forum forecast at its annual meeting last week in Kyoto, Japan. that “global stainless crude steel production will reach 29.8 million metric tons in 2007. This represents a rise of 5.1 % on 2006 production.”

The forum sees growth in production this year in China, Japan, India, Africa and throughout Western, Central and Eastern Europe.

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Forbes.com reported on behalf on Numis that, “Nickel prices look likely to exceed 50,000 usd per ton in the coming days or weeks on strong global stainless steel production, particularly in China, with nickel supply struggling to match consumption”

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Bloomberg.com noted that “Nickel gained the most in four weeks in London after production from the Voisey’s Bay mill in Canada was shut because of a dispute over safety.”

“Nickel, used in Stainless Steel,  has gained 40 percent this year, the best performer among six industrial metals traded on the LME. The metal traded at a record $51,800 a ton on May 9, prompting steelmakers including ThyssenKrupp AG to say they would make more nickel-free products to cut costs.”

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Used as a nuclear fuel, Uranium is an emissions-free source of energy, which makes it safe for the environment in comparison to other fuels. Canada has the world’s richest uranium deposits in northern Saskatchewan and has long been a world leader in Uranium technology.

But what do Canadians, on a whole, think about nuclear energy?

A recent research report prepared by Ipsos-Reid for the Canadian Nuclear Association, outlines Canadians’ current attitudes towards the environment, energy supply and a nuclear solution.

The report shows that Canadian concerns about future energy supply are becoming widespread, in tandem with environmental concerns:

• Only 37% of Canadians believe that conservation efforts on their own will be enough to offset growing demand
• Only  54% of Canadians believe that there is enough electricity supply in their province to meet future needs
   

There is overwhelming support for more government commitment to non-CO2 producing energy sources (93%)
 

While Canadians continue to have some basic concerns about nuclear energy, there is a  significant majority of Canadians who believe that:  

• nuclear energy is reliable (68%)
• nuclear power plants in Canada are safe (61%)
• nuclear will always be an important part of our future energy mix (60%)

The number one benefit associated with nuclear power, according to Canadians, is that it is less harmful to the environment, clean and pollution-free.

While Canadians don’t perceive nuclear energy as the only answer to dealing with environmental concerns, they do see it as one important part of the equation.

Click here for the report prepared by Ipsos-Reid for the Canadian Nuclear Association   

It says the total market capitalization of junior miners increased by 86% to $27.6 billion from $14.8 billion in 2005. The survey found that exploration companies were able to raise $1.2 billion through issuing shares, a 206% increase over 2005. 

$409.4 million was put towards mineral properties and exploration. This was 79% more than in 2005. $103.9 million was spent on property, plant and equipment in 2006, more than double that from the year before. 

62% of companies were based in British Columbia. Accross the country however, mining tax incentives help make Canada the world’s premiere jurisdiction for junior mining companies. 

For full report click here:      

Resource Investor points out that “the proportion of spending between juniors and seniors continues to shift in favour of the former, and in 2006, juniors accounted for 50% of companies with spending commitments in excess of $10 million.”
 

The Canadian mining industry is still booming with much attention in the uranium and  base metals sectors, as well as increasing interest in the Yukon, Nunavut and the Northwest Territories.
 

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 Nickel rose 10.6 per cent to $51,550 a tonne, after hitting a record at $51,600 Friday.
 Available stocks are still critically low at 3,354 tonnes while continued supply tightness is expected after disruption at the Voisey Bay nickel mine in Canada.

 Michael Widmer of Calyon  reported to  FT.com that stainless steel producers will cut output this year but this will not have a significant impact on nickel demand. He continues to say  that Calyon raised its 2007 average nickel price forecast from $34,580 to $44,080 and expects prices to average $50,000 in 2008

Base metals strength also inspired gains for gold, up 1.1 per cent to $688.50 a troy ounce this week.
Source: FT.com Financial Times
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Indicator Minerals has encouraging diamond counts from an area only a short distance from the community.  A 25.5 kg kimberlite float sample from the 2006 field season recovered 176 diamonds. 

While Indicator has yet to find the source of the boulder, the company has started a $1-million exploration program on the Barrow property and will drill test the best geophysical targets defined in 2005/2006.

                - HRD Antwerp Facets

Metals and Mining Notes

- A look back at the top 30 North American pure gold companies over 10 years shows that only six of them remain and those that are left have quite different asset bases than they did 10 years ago.

- Goldcorp was the 31st largest by reserves in 1996.

- At the peak of the Tech Bubble in the 1999, the market capitalization of the global gold industry sat at about US$ 50 B. Now the combined market cap of the top three Canadian (Gold Mining) companies alone (including the merged Goldcorp/Glamis) sits at about US$ 65 B.

Source: November 9, 2006, Email newsletter “Top of the Morning” from the office of Simon Jaques and Bob Mawhinney, Investment Advisors from Research Capital Corp. in Vancouver, Canada
 

   Information collected from the Canadian Financing Bulletin